Navigation Links
Revenue360® Delivers True Healthcare Pricing Transparency and Significant ROI via its Hospital Revenue Management Solution Suite
Date:3/28/2013

(PRWEB) March 28, 2013

Beaverton, Oregon: Revenue360® hospital clients are experiencing significant benefits including true healthcare pricing transparency, increased point-of-service payments, decreased accounts receivable (A/R) days, and increased patient satisfaction. To communicate these validated benefits, Revenue360®’s has commissioned a five minute video case study describing the problem, the solution and the benefits experienced at a sample hospital. In addition to the video, Revenue360® has published a white paper supplying more detail concerning how the solution works and the benefits (financial and otherwise) that it delivers.

There has been significant coverage in the news lately regarding the lack of pricing transparency in the US healthcare system. Revenue360®’s Pricing Estimation module captures historical pricing for each procedure, by insurance plan, and aggregates this data with hospital charges and the patient’s payment information (co-pay, deductible and coinsurance) to calculate reliable pricing for patients before they are admitted for services. This enables an informed conversation with the patient to prepare them for their payment responsibility. The result surpasses “transparency” into generic hospital pricing lists which often are wildly different from the price paid by an individual patient.

Eligibility Verification works by initiating a real-time eligibility request at the earliest point in the registration process. It then returns insurance eligibility and benefit information customized to the individual hospital’s business rules - only the information desired is presented. Verifying this information at the point of service enables admittance staff to collect co-pays and deductibles immediately. Hospitals integrating Revenue360®’s application platform, with the Eligibility Verification and Pricing Estimation software modules, and some straightforward hospital policy and procedural changes, are achieving 600% and more increases in Point-of-Service collections, and decreases in A/R days down to absolute minimums.

Revenue360®’s hospital clients have experienced significant benefits including true healthcare pricing transparency, increased point-of-service payments, decreased accounts receivable (A/R) days, and increased patient satisfaction. The outcomes from the patients’ perspective include an increased satisfaction with the entire experience. They are happier knowing what the procedure is going to cost them out of pocket and their expectation is set before they arrive for services.

From the employee perspective, their day to day experiences interacting with patients are much more pleasant. They feel empowered by the tools and process controls, and confident in the efficacy of the data. They feel that, even while they’re collecting much more in payments from patients, they are delivering a level of service that was not possible before the deployment of the Revenue360® platform. From the hospital management perspective, revenue losses have been greatly decreased and productivity in Patient Access has been significantly increased. Collection costs and bad debt write-offs have been minimized. A path to a financially secure future for the hospital has been revealed.

About Revenue360®:                     

Revenue360® helps hospitals GET PAID FASTER!
By integrating public data into the healthcare provider’s workflow, Revenue360 leads staff to higher point-of-service collections and prevents common errors, resulting in cleaner claims. Providing customized guidance based on the user’s business rules, Revenue360 simplifies complex processes including insurance coding, eligibility verification, address and demographic validation, medical necessity, pricing estimation, payment assessment, e-cashiering, and Medicaid and charity assessment. Revenue360 reduces rework, increases and accelerates total revenue, and improves customer satisfaction through better patient communication.
Learn more at: http://www.Revenue360.net

Provider Advantage and Revenue360® are trademarks of Provider Advantage NW, Inc.
© 2013 Provider Advantage, Inc.
All Rights Reserved

Read the full story at http://www.prweb.com/releases/2013/3/prweb10579254.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. A Revolutionary Dietary Paradigm: New Cookbook Features A SOS-free (Salt, Oil, Sugar ) Diet That Delivers the Optimal Food Plan for Renewing Health
2. Adena Delivers Instant Health Information to Mobile Devices
3. Under-twisted DNA origami delivers cancer drugs to tumors
4. Injectable sponge delivers drugs, cells, and structure
5. John DeLuca, Ph.D., of Kessler Foundation delivers keynote at IPMSC meeting in Milan
6. For stroke patients, mechanical clot removal delivers no advantage over standard care
7. ForeCYTE Delivers Blow in the War Against Breast Cancer
8. 'LKLiveMapping' Improves Laboratory Operating Efficiency, Delivers a High First-Submission Approval of Claims, and Improves Collection
9. Young CEO Delivers Keynote Address to Inspire Collegiate Entrepreneurs at Regional Conference
10. MileageAds.com Ad Network Now Delivers Traffic To Immigration Consultants Business Websites
11. Weill Cornell Medical College establishes Center for Healthcare Informatics and Policy
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... ... 10, 2016 , ... Gout is like no other joint pain. It strikes ... with intense swelling and redness. It is triggered by the crystallization of uric acid ... the most susceptible, according to the February 2016 issue of Harvard Men's Health Watch. ...
(Date:2/10/2016)... ... 10, 2016 , ... AHRA: The Association for Medical Imaging ... Fox will serve as keynote speaker at the organization’s 2016 Spring Conference. Fox’s ... more effectively communicate with their own organizational staff and leadership. , “I ...
(Date:2/10/2016)... MN (PRWEB) , ... February 10, 2016 , ... ... that it will attend the Ohio Safety Congress and Expo event March 9-11, ... at the Greater Columbus Convention Center. , As the longest running and ...
(Date:2/10/2016)... (PRWEB) , ... February 10, 2016 , ... ... revolutionary, biocompatible columns and accessories. These PEEK-lined stainless steel (PLS) columns combine the ... a solution that ensures the integrity of biological samples while operating at ultra-high ...
(Date:2/10/2016)... , ... February 10, 2016 , ... Workrite Ergonomics, who ... that has evolved from humble beginnings to being an internationally recognized leader in their ... we are today”, said Charlie Lawrence, President of Workrite. “Workrite recognized the importance ...
Breaking Medicine News(10 mins):
(Date:2/10/2016)... -- LexisNexis® Risk Solutions, a leading provider of data, ... LexisNexis Provider Performance Monitor , a clinical ... the quality and efficiency of provider networks through ... measuring provider performance through Provider Performance Monitor, payers ... improve the patient experience and reduce costs, as ...
(Date:2/10/2016)... 2016 Mast Therapeutics, Inc. (NYSE ... for sickle cell disease and heart failure, today announced ... units at a price to the public of $0.275 ... the Company,s common stock and one warrant to purchase ... exercise price of $0.42 per share. The warrants are ...
(Date:2/10/2016)... 10, 2016 ALSP, Inc. announced that it has ... for Medical Affairs in preparation for its move into clinical ... PhD, CEO, stated, "We are pleased to welcome Dallas ... working with an individual of such practical knowledge and far-reaching ... drawing deeply on his broad experience and success as a ...
Breaking Medicine Technology: